In this exclusive video for Mortgage Solutions: High Street versus mainstream, our panel including Craig MacKinlay, new business director at Kensington Mortgages, Vikki Jefferies, proposition director at Primis Mortgage Network and Greg Cunnington, director of lender relationships and new homes, Alexander Hall debate the business drivers brokers could capitalise on this year.
Sponsored by Kensington Mortgages, McKinlay said as we come out of a recession, self-employment typically rises and at 15 per cent now, this will only increase.
“Work hard in this sector to get a good reputation and get out on social media and promote your skills on self-employed cases, said McKinlay.
Jefferies agreed, adding that infiltrating group and sector discussion forums like those of the IT sector is also a great way to work up a referral model, for example, groups debating the best way to tackle the IR35 tax status changes.
“I’m not saying brokers need to be tax experts, but if people are talking about something relevant to a sector like IR35, they will need mortgage advice, so don’t be afraid to ask for those referrals,” said Jefferies.
Self-employed as an obstacle
Cunnington said a lot of the self-employed cases that would have been waved through before the pandemic as vanilla are attracting more scrutiny now.
“We are seeing a lot of clients who think they won’t be able to get a mortgage or remortgage after all the negative stories about self-employed mortgages in the national press. But actually, if you talk to specialist lenders there are plenty of success stories out there,” he added.
It’s important that brokers promote their successes on social media and through case studies on the website to encourage this kind of personal referral activity, he said.
Watch the debate unfold below for more on the wins from manual underwriting, what brokers want from a business development manager (BDM) and Kensington’s moves into the Northern Irish market and its onward strategic lending plans.